This invention relates in general to cutting tools and deals more particularly with an improved holder for detachable blades suitable for use as a general purpose cutting tool and particularly adapted for use as a carpet installation tool. Holders for detachable blades are well known in the art and such a blade holder is illustrated and described in my U.S. Pat. No. 3,604,113, issued Sept. 4, 1971. The blade holder of my aforementioned U.S. patent has two elongated body portions which cooperate in mating engagement to define a longitudinally extending handle portion and a blade retaining portion which extends forwardly from the handle portion. The two body sections are connected at the rear end of the handle portion to pivot relative to each other and to an open position wherein a blade may be attached to or removed from the holder. A latching member pivotally connected to the forward end of one of the sections carries a latch element which is radially spaced from the pivot axis of the latching member. The pivoted latching member cooperates in latching engagement with a blade receiving projection on the other section spaced rearwardly of its forward end. When the handle is in its closed position the latching member retains a blade in interlocked relation with the holder so that a portion of the blade extends forwardly of the holder. Because of the pivotal arrangement of the latching member, at the forward or working end of the holder, the blade receiving projection, which extends through an aperture in the blade, must be spaced a substantial distance rearwardly of the latching member pivot axis. This arrangement restricts blade projection. Although the blade may be reversible, only about one-third of its cutting edge can be exposed beyond the holder. Thus, a central portion of each blade edge remains unused even when the blade is sufficiently worn to require replacement. Situations are encountered where a longer cutting edge is desired, or, in fact, required. Further, the latch member being pivotally connected to only one of the body sections by a relatively short pivot pin tends to loosen from repeated use and generally lacks desired blade retention capability. In my earlier construction, exemplified by the aforesaid patent, a rivet retains the two body sections in assembly and also serves as a pivot pin. This riveted construction is prone to binding and may make it difficult to open and close the holder.
The present invention is concerned with the aforesaid problems.